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Increasing contributions.
Posted: Mon May 16, 2022 12:49 am
by Bubblegun
Ive been looking to increase my IDECO contribution, however I am not able to see where I can do this.
Can anyone point me in the right direction.
I am using Rakuten.
Thank you in advance.
Re: Increasing contributions.
Posted: Mon May 16, 2022 12:59 am
by RetireJapan
You need to request the paper documents, then submit them by post. There is a link in the iDeCo page:
I'm going through this at the moment as I left my job at the end of March so needed to change almost everything about my iDeCo account. Rakuten called me up a couple of days ago to confirm some details in the documents I sent them five weeks ago.
Apparently they now need to send me some additional forms to fill in. Oh joy.
I actually got a bit annoyed and asked the woman on the phone whether it was going to take another six weeks for them to process the new documents. "Oh, no," she said. "It should be a bit quicker than that. After all, we don't want you to miss many more contributions, eh?"
Eh, indeed.
Re: Increasing contributions.
Posted: Mon May 16, 2022 5:47 am
by MBK
I have a small question about iDeco and did not want to make a new topic, so let me ask here.
I have just started with iDeco and made my contributions at 23,000 JPY per month.
After two month, I`m looking at the figures and the total allocation amount is 42,961 JPY, although it shall be 46,000 JPY.
I made my account through Rakuten (though not as a Rakuten member, so I`m using JIS&T interface).
Any idea what the difference between allocation amount and paid amount might be? Are there any service fees I`m missing?
Re: Increasing contributions.
Posted: Mon May 16, 2022 6:19 am
by beanhead
MBK wrote: ↑Mon May 16, 2022 5:47 am
Any idea what the difference between allocation amount and paid amount might be? Are there any service fees I`m missing?
Yes, there are set-up fees. This has been discussed before, fairly recently.
The monthly fees are low, less than 200 yen, but the initial set-up is what you have seen.
Re: Increasing contributions.
Posted: Mon May 16, 2022 6:34 am
by MBK
Thank you for a prompt reply. Makes sense. I will look also in past topics.
Re: Increasing contributions.
Posted: Mon May 16, 2022 10:18 pm
by William
beanhead wrote: ↑Mon May 16, 2022 6:19 am
MBK wrote: ↑Mon May 16, 2022 5:47 am
Any idea what the difference between allocation amount and paid amount might be? Are there any service fees I`m missing?
Yes, there are set-up fees. This has been discussed before, fairly recently.
The monthly fees are low, less than 200 yen, but the initial set-up is what you have seen.
I feel that someone is talking about the "dumb" question I've recently asked.
Re: Increasing contributions.
Posted: Tue May 17, 2022 9:33 am
by beanhead
William wrote: ↑Mon May 16, 2022 10:18 pm
I feel that someone is talking about the "dumb" question I've recently asked.
Haha. There are no dumb questions!
...actually...that is not true...
'Will my kokumin nenkin alone allow me to lead a life of luxury when I retire?' is one example.
'Should I save some money for my kid's education?' is perhaps another...
Re: Increasing contributions.
Posted: Fri May 20, 2022 2:20 am
by Bubblegun
RetireJapan wrote: ↑Mon May 16, 2022 12:59 am
You need to request the paper documents, then submit them by post. There is a link in the iDeCo page:
I'm going through this at the moment as I left my job at the end of March so needed to change almost everything about my iDeCo account. Rakuten called me up a couple of days ago to confirm some details in the documents I sent them five weeks ago.
Apparently they now need to send me some additional forms to fill in. Oh joy.
I actually got a bit annoyed and asked the woman on the phone whether it was going to take another six weeks for them to process the new documents. "Oh, no," she said. "It should be a bit quicker than that. After all, we don't want you to miss many more contributions, eh?"
Eh, indeed.
Thanks for that. It seems that paperwork has to the the biggest block to get me to increase my contributions, but I'll get to it. It just a pity they can't let us do it on the IDECO page itself.
These guys really need to be introduced to nudge theory.
